Saudi Arabia Aquaculture Market Research Report 2021-2027
Posted by arshiyashaikh on May 18th, 2022
Saudi Arabia Aquaculture Market is expected to grow at a formidable CAGR during the forecast period, 2023-2027. Changing food consumption habits and expanding retail food chains offering varieties of seafood in the country are some of the driving factors attributing to the growth of Saudi Arabia aquaculture market. Aquaculture involves the breeding, rearing, and harvesting of marine animals and aquatic plants in a controlled ecosystem to optimize utilization of farm resources, augment farm production, generate employment, produce adequate food, and dispose of agricultural waste. Aquaculture has become an important source of food in Saudi Arabia as the health-conscious population is increasingly becoming aware of the health benefits of consuming protein-rich meat, which is boosting the growth of the Saudi Arabia Aquaculture market. Besides, the country is involved with the seafood trade of aquatic organisms like fish, mollusks, crustaceans, and other aquatic flora, which is promoting the growth of the Saudi Arabia aquaculture market. Moreover, rising e-commerce channels offering seafood varieties, rising personal disposable incomes of the population, and growing urbanization in the country are propelling the demand for Saudi Arabia aquaculture market during the forecast period.
Saudi Arabia aquaculture market is segmented by type, culture, distribution channel, regional distribution, and company. Based on type, the market is further segmented into fisheries, seaweeds, microalgae, crustaceans, mollusks, and others. The fisheries segment is expected to hold the largest market in Saudi Arabia aquaculture market due to the growing demand for fish in the dietary nutrition and production of omega-3 supplements. Besides, fishes are being largely adopted as pets and for decorating aquariums at home, thus propelling their demand. Based on culture, the marine culture segment is expected to register the fastest growth during the forecast period owing to the rising demand for seafood products and declining capturing of fisheries from the oceans.
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